Monero (XMR) Daily Price Forecast – June 13

XMR/USD Medium-term Trend: Bearish

Supply zones: $150.00, $160.00, $170.00

Demand zones: $120.00, $110.00, $100.00

Monero continues its bearish trend in the medium-term outlook. The bears' pressure keeps getting stronger as they push price further down. The target of $120.00 was broken and price went further down to a fresh demand area at $106.98.Price is still below the two EMAs crossover. Which is indicative of the bears pressure.

The two EMAs are fanned apart which implies strength in the context of the trend. In this case, it is the downtrend. We are likely to see price making a further journey south as the bears' momentum increase.

XMR/USD Short-term Trend: Bearish

The cryptocurrency continues in its bearish trend in the short-term outlook. The 10-day EMA acted as a strong resistance for every bullish attempt as seen in the above chart.

Price is forming lower highs and lower lows which is peculiar to a bearish market. More lower highs and lower lows will be made as the bears intensify their pressure in bringing price to the $100.00 demand area which is their target.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research

Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager - as well as an author.

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